Competent Persons Report
Key Findings of the CPR
- Four structures over the Bain, Cooper and Donaldson licences with Unrisked Recoverable Prospective Resources (EUR) in excess of 500 million bbls each at multiple reservoir intervals;
- Three of the four structures have an unrisked EUR in excess of 1 billion barrels of oil;
- The EUR have been estimated statistically – and each of the separate intervals are considered to have different risk. However, if the hydrocarbon system is working at each level, the four structures have a summed mean EUR greater than four bboe;
- The report focused on the Cretaceous interval only. The shallower Tertiary strata and deeper Jurassic pre and post-salt will be evaluated after we have completed our 3D seismic interpretation and;
- The report also addresses the Chance of Success by reservoir interval for each structure.